Labour Market Information (LMI)

Labour market information is information relating to the world of work, employment trends, job roles and availability.

LMI is often used by colleges and universities to plan curriculums that better reflect the needs of the local economy. It can be used by Local Authorities to determine the skills needs of their local labour market.

It can be used by consultancy firms to help them understand the economic realities of a region. It can be used to help property developers to establish the economic impact of redevelopment.

In short, any organisation that is involved in driving the economy, or in fostering economic growth, might well use LMI to help them understand aspects of the economy in which they operate. It can be used to give young people information about occupations in their area.

Why is it important?

When choosing a course, job role or sector to work in, it is important to know about your local labour market. Will there be jobs available in your area of interest? Labour market information can help you challenge assumptions. For example, you might assume that going to university is always better for your career than alternative routes. However, some non-graduate jobs are currently in high demand, and higher apprenticeship holders are projected to earn salaries comparable to degree holders. Think through your choices.

Chances are you’ve used your own LMI to make career and work decisions in the past, even if you haven’t heard the term before. As well as raw and analysed data, LMI refers to any knowledge you may have about how the labour market works; its structure and your place within it. How will you find a job? You will probably search online or it may be through word of mouth? Where do you think the next opportunities might arise? Consider how you answered the last question – what information and experience did you draw on.

Also checkout job vacancy websites and the local jobcentre and newspapers: What types of job roles are most commonly advertised? Look on the local Council and Chamber of Commerce websites for news and events. Search for professional bodies/institutes linked to your career interest area as they often list vacancies and have great links to other useful information, such as entry requirements and courses.

Where can I find labout marketing information?

There are a number of useful online sources of LMI that you can access; an example is the Office for National Statistics website has a section dedicated to Labour Market Information.